Elevation Point Wealth Partners LLC Sells 136 Shares of monday.com Ltd. (NASDAQ:MNDY)

Elevation Point Wealth Partners LLC cut its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,240 shares of the company’s stock after selling 136 shares during the period. Elevation Point Wealth Partners LLC’s holdings in monday.com were worth $1,274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rubicon Global Capital Ltd acquired a new position in monday.com during the first quarter worth approximately $137,434,000. Assenagon Asset Management S.A. raised its position in monday.com by 754.8% during the first quarter. Assenagon Asset Management S.A. now owns 440,622 shares of the company’s stock valued at $107,142,000 after purchasing an additional 389,073 shares in the last quarter. Yousif Capital Management LLC raised its position in monday.com by 4.6% during the first quarter. Yousif Capital Management LLC now owns 1,948 shares of the company’s stock valued at $474,000 after purchasing an additional 85 shares in the last quarter. Farther Finance Advisors LLC raised its position in monday.com by 32.7% during the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company’s stock valued at $55,000 after purchasing an additional 52 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new position in shares of monday.com during the first quarter worth $280,000. 73.70% of the stock is currently owned by institutional investors.

monday.com Trading Down 6.4%

NASDAQ:MNDY opened at $279.95 on Friday. The stock has a market capitalization of $14.21 billion, a PE ratio of 466.58, a price-to-earnings-growth ratio of 16.53 and a beta of 1.30. The firm’s 50 day moving average is $277.67 and its 200 day moving average is $267.02. monday.com Ltd. has a 12 month low of $188.01 and a 12 month high of $342.64.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.40. The company had revenue of $282.25 million for the quarter, compared to analysts’ expectations of $275.93 million. monday.com had a net margin of 3.33% and a return on equity of 6.22%. monday.com’s revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. Research analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MNDY shares. UBS Group decreased their price objective on monday.com from $350.00 to $310.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of monday.com in a research report on Tuesday, May 13th. Wall Street Zen raised shares of monday.com from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Canaccord Genuity Group cut their price objective on shares of monday.com from $375.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company increased their price objective on shares of monday.com from $335.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $347.86.

monday.com Company Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.